Hive Digital Shares Gain on Hashrate and Revenue Update

Hive Digital Technologies HIVE shares are trading higher after the company provided updates on its hashrate and run rate revenue.

What To Know: Hive announced it has surpassed 12 exahash per second (EH/s) of global Bitcoin mining hashrate, doubling from 6 EH/s at the start of the year. The company also exceeded a $250 million annualized run rate revenue, driven by its rapid expansion in Paraguay.

Additionally, the company is currently constructing three hydro-powered data center campuses in Yguazú. Phase 2 of the project is underway, with 1 EH/s of next-generation Bitmain S21+ Hydro ASIC miners already hashing. Hive expects to hit 6.5 EH/s at the site by late August, 18 EH/s globally by summer's end, and 25 EH/s by Thanksgiving.

"With this momentum, the Company remains on track to achieve 18 EH/s by summer’s end and 25 EH/s by American Thanksgiving 2025," Hive said.

President and CEO Aydin Kilic said the company is now mining more than 6 BTC per day at a 55% margin. Once 18 EH/s is reached, Hive expects $400 million in annualized revenue with mining margins approaching 60%.

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HIVE Price Action: At the time of writing, HIVE shares are trading 0.43% higher at $2.325, according to data from Benzinga Pro.

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